The U.A.E. mechanical, electrical, and plumbing (MEP) services market generated a revenue of $3,025.9 million in 2020, and it is predicted to attain a value of $12,946.9 million by 2030. According to the estimates of P&S Intelligence, a market research firm based in India, the market will advance at a CAGR of 15.7% between 2021 and 2030. The market is being driven by the booming hospitality industry and the increasing construction activities in the country.
The expansion of the hospitality industry, on account of the surge in the travel and tourism industry and the huge investments being made in various tourism development projects such as the Sharjah Tourism Vision 2021 and Dubai Tourism Vision, is fueling the growth of the U.A.E. MEP services market. Furthermore, Dubai was listed by the Forbes travel guide in its list of top 20 travel destinations for 2020. This further propelled the market advancement in the country.
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The electric service category is further divided into home automation, UPS systems, lighting design and control, HV/MV/LV substations, building management systems, security systems, telephone, data, and information technology (IT) systems, and audio visual systems sub-categories. Out of these, the home automation sub-category is predicted to exhibit the highest growth rate in the market in the forthcoming years, on account of the surging disposable income of people and their increasing preference for a luxurious lifestyle.
When end user is taken into consideration, the U.A.E MEP services market is categorized into residential, commercial, retail, industrial, healthcare, government, and hospitality. Out of these, the commercial category contributed the highest revenue to the market in 2020. This was due to the existence of several commercial buildings in the country. Moreover, regular MEP maintenance is very beneficial for buildings as it ensures the prevention of various hazards and keeps the occupants safe.
Hence, it is quite clear that the market will register huge expansion in the years to come, primarily because of the booming hospitality and travel and tourism industries and the launch of extensive infrastructural development and construction projects all over the country.
Read More: https://www.psmarketresearch.com/market-analysis/uae-mechanical-electrical-plumbing-services-market
